Moseley Investment Management Inc. Takes $279,000 Position in CGI Inc. (NYSE:GIB)

Moseley Investment Management Inc. purchased a new position in shares of CGI Inc. (NYSE:GIB - Free Report) TSE: GIB.A in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,790 shares of the technology company's stock, valued at approximately $279,000.

Several other large investors also recently modified their holdings of GIB. Norges Bank purchased a new stake in shares of CGI during the 4th quarter worth approximately $286,970,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of CGI by 1,190.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 845,916 shares of the technology company's stock worth $92,438,000 after purchasing an additional 780,370 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of CGI by 29.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,992,111 shares of the technology company's stock worth $327,007,000 after purchasing an additional 678,431 shares during the last quarter. Bank of Montreal Can increased its stake in shares of CGI by 17.3% during the 4th quarter. Bank of Montreal Can now owns 3,843,289 shares of the technology company's stock worth $419,976,000 after purchasing an additional 567,868 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of CGI by 27.5% during the 4th quarter. Geode Capital Management LLC now owns 1,272,840 shares of the technology company's stock worth $140,266,000 after purchasing an additional 274,370 shares during the last quarter. Hedge funds and other institutional investors own 66.68% of the company's stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated an "outperform" rating and set a $192.00 price target on shares of CGI in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $156.75.

CGI Stock Performance

CGI stock traded up $0.08 during mid-day trading on Wednesday, reaching $108.80. The company's stock had a trading volume of 203,687 shares, compared to its average volume of 203,806. CGI Inc. has a 12-month low of $92.85 and a 12-month high of $122.79. The company has a market capitalization of $24.67 billion, a P/E ratio of 19.67, a PEG ratio of 2.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.04 and a current ratio of 1.31. The firm's fifty day moving average price is $105.19 and its two-hundred day moving average price is $108.33.

CGI (NYSE:GIB - Get Free Report) TSE: GIB.A last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). CGI had a net margin of 11.72% and a return on equity of 19.32%. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter in the prior year, the firm posted $1.97 earnings per share. The firm's quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that CGI Inc. will post 5.79 EPS for the current fiscal year.

CGI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 16th will be paid a $0.1086 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 0.40%. This is a positive change from CGI's previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 16th. CGI's payout ratio is currently 7.83%.

CGI Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.